NIFTY
Current: 4,859 (Nov fut: 4,873),
Target: NA
The index could see another big swing today between 4,750 and 4,975. Short future can be stop-lossed at 4,900 and long futures stop-lossed at 4,800. A wide strangle of long 4,700p (81) and long 5,000c (74) could gain a net 25-30 on a swing of 100 points.
HINDALCO
Current price: Rs 124
Target price: Rs 128.5
If the uptrend continues, resistance at Rs 128-129 will be tested. On the downside, the stock has support at Rs 118-119. Keep a stop at Rs 121 and go long. Add to the position between Rs 125.5 and Rs 127. Book profits above Rs 128.5. If the stock drops below Rs 118, it will fall till Rs 115.
DLF
Current price: Rs 209.5
Target price: Rs 201.5
The stock could hit major resistance between Rs 211 and Rs 212 and revert to Rs 201-202 in the next three sessions. Keep a stop at Rs 213 and go short. Add to the position between Rs 205 and Rs 207. Book profits below Rs 202.
TATA STEEL
Current price: Rs 387
Target price: Rs 400
There is resistance at Rs 388-390. If that is overcome, the stock could climb till Rs 400. Keep a stop at Rs 382 and go long. Add to the position between Rs 391 and Rs 394. Book profits at Rs 400. If Rs 382 is broken, a fall till Rs 377 is likely.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
